US adds 175,000 jobs and unemployment rate rises to 3.9 percent, falling short of economist expectations
The U.S. economy added 175,000 jobs in April, and the unemployment rate rose to 3.9%, according to new Labor Department data released Friday. April’s employment report was lower than economists expected, with 240,000 new jobs and an unemployment rate of 3.8%. The latest jobs report came days after the Federal Reserve decided not to cut […]
Gold prices tread water as rate fears grow ahead of nonfarm payrolls – Investing.com
Investing.com — Gold prices were little moved in Asian trading on Friday as markets continued to dislike the yellow metal ahead of important U.S. jobs data, but the prospect of higher interest rates for an extended period of time pushed gold lower for the week. It is expected to decline. The yellow metal had tumbled […]
EUR/USD remains above 1.0700 amid expectations of Fed refraining from further rate hikes – FXStreet
EUR/USD rose as risk appetite improved following dovish comments from Fed Chair Jerome Powell. Federal Reserve Chairman Jerome Powell said it will take longer than previously expected to bring inflation down to its 2% target. The euro could struggle as recent eurozone inflation figures raise hopes that the ECB could cut interest rates in June. […]
Stocks surge as Fed Chair signals further rate hikes ‘unlikely’
Investors breathed a sigh of relief Wednesday after the Federal Reserve indicated the central bank’s next action likely won’t be to raise interest rates. The Fed held interest rates on hold Wednesday, raising a red flag over recent disappointing inflation data and extending its wait-and-see stance, which could last until later this year. However, Federal […]
Federal Reserve Chair Jerome Powell says rate cuts ‘will take longer than previously expected’ after interest rate meeting
Federal Reserve Chairman Jerome Powell acknowledged Wednesday that the central bank is delaying plans to cut interest rates because inflation has plateaued well above the central bank’s target. The Federal Open Market Committee (FOMC), the central bank committee tasked with setting monetary policy, voted on Wednesday to keep the federal funds rate in the range […]
Buyers are taking on riskier adjustable rate mortgages as affordability worsens
Madison Ventures+ Managing Director Mitch Rochelle shares his thoughts on rising mortgage rates and rent prices. US homebuyers are turning to riskier home purchases variable rate mortgage High interest rates are making it unaffordable for buyers taking out new fixed-rate mortgages, according to a new report. Mortgage Bankers Association’s composite market index. Loan application The […]
Dow surges nearly 500 points after Fed hints at rate cut
Stocks on Wall Street were volatile but soared Wednesday. The Fed left its main interest rate unchangedwas in line with expectations, but indicated that the next move in interest rates would likely be a rate cut. The Dow Jones Industrial Average rose 476 points, or 1.3%, to $38,292. The S&P 500 rose 0.9% and the […]
No rate cuts after ‘lack of further progress’ on inflation
With inflation rising modestly and the labor market remaining strong, the Fed has decided to keep interest rates at their highest levels in 23 years, likely pushing the possibility of rate cuts into the year. Interest rates will remain in the range of 5.25% to 5.5% since last July, the Federal Open Market Committee (FOMC) […]
Companies Are Slashing Away At Debt As Surging Inflation Casts Shadow Over Interest Rate Cuts
The Wall Street Journal reported Wednesday that recent reports of high inflation have dimmed prospects for central bank interest rate cuts, making borrowing more expensive and causing many Companies are reportedly considering reducing debt. Even companies with already strong credit prospects are deleveraging to improve their ratings from top agencies and reduce borrowing costs, which […]
S&P 500 futures fall as Wall Street braces for Fed rate decision: Live updates – CNBC
1 hour ago Microsoft opens first regional data center in Thailand Technology giant Microsoft announces Opens first regional data center in Thailand. The company also announced that it will build new cloud and AI infrastructure in Thailand and provide more than 100,000 people with the opportunity to acquire AI skills. Microsoft said it will expand […]